Retirement Plans and Accounts definition

Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan and 401(k), XXX, and other tax deferred accounts that qualify for special federal income tax treatment under Internal Revenue Code Sections 401, 403, or 408 (or equivalent statutes). of the Parties A. ASSETS Estimated Fair Market Value Estimated Fair Market Value NAME 1 Cash 2 Stocks, bonds, and marketable securities 3 Closely held business interest 4 Home Equity 5 Other Real Estate 6 IRAs
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Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan;
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Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan and 401(k), XXX, and other tax deferred accounts that qualify for special federal income tax treatment under Internal Revenue Code Sections 401, 403, or 408 (or equivalent statutes). Summary Financial Statements of the Parties A. ASSETS XXXXX XXXXXX Estimated Fair Market Value XXXXXX XXXXX Estimated Fair Market Value 1 Cash $1,000 $2,000 2 Stocks, bonds, and marketable securities $10,000 $10,000 3 Closely held business interest $100,000 $0 4 Home Equity $60,000 $0 5 Other Real Estate $0 $0 6 IRAs $35,000 $55,000 7 Other Retirement Assets $0 $0 8 Trust assets n/a n/a 9 All other assets n/a n/a TOTAL ASSETS $206,000 $67,000 B. DEBTS XXXXX XXXXXX XXXXXX XXXXX 10 Credit Card Debt $5,000 $2,000 11 Tax Debts n/a n/a 12 Other Debts n/a $5,000 TOTAL DEBTS $5,000 $7,000
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Examples of Retirement Plans and Accounts in a sentence

  • Deposit Insurance: Retirement Plans and Accounts Individual Retirement Accounts.

  • Please refer to the “Maximum Deposit Amount” and “Program Limitations” sections within Section II.B., “How the Programs Work,” for Program-specific limitations.Deposit Insurance: Retirement Plans and Accounts Individual Retirement AccountsIndividual retirement accounts as described in the Internal Revenue Code Sections408(a) and 408A are insured up to $250,000 per depositor.

  • Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts: Under current law, generally at the age of 72, individuals must take a required minimum distribution (“RMD”) from their defined contribution plans and IRAs. Due to the market downturn, the balances in these accounts have sharply decreased – in many instances, the market has reduced taxpayers’ accounts more than what their RMD would have been for 2020.

  • Please refer to the “Maximum Deposit Amount” and “Program Limitations” sections within Section II.B., “How the Programs Work,” for Program-specific limitations.Deposit Insurance: Retirement Plans and Accounts Individual Retirement AccountsIndividual retirement accounts as described in the Internal Revenue Code Sections 408(a) and 408A are insured up to $250,000 per depositor.

  • For example, if a corporation has both an operating account and a reserve account at the same bank, the FDIC would add both accounts together and insure the aggregated deposits up to $250,000.Deposit Insurance: Retirement Plans and Accounts Individual Retirement Accounts.

  • In regard to Retirement Plans and Accounts, the Parties covenant and agree that all accumulations in, and contributions to, Retirement Plans and Accounts whether before or during the marriage or civil partnership shall be the Separate Property of the Party who owns the account or is the plan beneficiary.

  • Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts Waiver of early withdrawal penalties for withdrawals (up to $100,000) from certain retirement accounts for COVID-19-related purposes.

  • We have summarized four areas that a financial institution is most likely to encounter- Section 2203 Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts: IRA owners, including beneficiaries, will not be required to take a 2020 RMD from their IRAs or Inherited IRAs. The RMD waiver also applies to individuals who turned 70½ in 2019 but did not take their RMD before January 1, 2020.

  • Sheppard, IRS Introduces Two Unique Remedies for U.S. Persons with Unreported Canadian Retirement Plans and Accounts, INT’L TAX J., Jan.-Feb.

  • But most savings occurs through employer-provided retirement plans – less than 15% of Americans save for retirement outside of work.21 Figure 12: Retirement Plans and Accounts - Examples IRAs and IRA-based PlansThere are several reasons why employer-provided retirement plans are the main vehicle for savings:❖ Employers may automatically enroll workers into a plan at hire, so it takes no effort to start saving.

Related to Retirement Plans and Accounts

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Separate Accounts means the accounts which are to be prepared for each

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Individual account program means the defined contribution individual account program of

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Administrative Plans means investment plans offered by the Management Company and approved by the Commission, where such plans allow investors a specific investment strategy in any one or a combination of Schemes managed by the Management Company in accordance with the conditions specified by SECP.